The Global Interstitial Cystitis Drugs Market, by Drugs (Pentosan Polysulfate Sodium, Dimethyl Sulfoxide, and Others), by Route of Administration (Oral Therapy and Intravesical Therapy), by End User (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America) was valued at US$ 206.6 Million in 2021 and is projected to exhibit a CAGR of 6.6% during the forecast period (2021-2028).
The key players in the global interstitial cystitis drugs market are expanding their market presence by focusing on getting drug approvals from regulatory authorities. For instance, on April 3, 2017, the European Commission announced that Elmiron received European Union (EU) approval for the treatment of bladder pain syndrome/interstitial cystitis in adults with moderate to severe bladder pain and frequent micturition. With Elmiron’s marketing authorization, Bene-Arzneimittel, a pharmaceutical company based in Germany, has the Europe’s first approved drug therapy against interstitial cystitis.
Global Interstitial Cystitis Drugs market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 pandemic has affected various industries globally. The players operating in the global interstitial cystitis drugs market are facing major challenges on various fronts due to the COVID-19 pandemic. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported globally, as of July 14, 2021, are approximately 187,519,798 confirmed cases with 4,049,372 deaths. COVID-19 disease has affected the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another. However, the crisis due to coronavirus disease has given a boost to pharmaceutical companies to grow and develop an ambitious drug and vaccine projects with a sole aim to contain the viral outbreak. Such demanding R&D projects are in turn creating a wealth of opportunities for innovations in interstitial cystitis drugs market landscape as well.
Browse 26 Market Data Tables and 24 Figures spread through 142 Pages and in-depth TOC on “Global Interstitial Cystitis Drugs market”- Forecast to 2028, Global Interstitial Cystitis Drugs market by Drugs (Pentosan Polysulfate Sodium, Dimethyl Sulfoxide, and Others), by Route of Administration (Oral Therapy and Intravesical Therapy), by End User (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America)
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The key players operating in the market are focusing on receiving patent grants for the treatment methods, which is expected to propel the growth of the global interstitial cystitis drugs market over the forecast period. For instance, on April 15, 2021, Tetra Bio-Pharma Inc., a biopharmaceutical pioneer in immunomodulator drug discovery and development, announced about the grant of a new patent (application number 16/190,450) by the United States Patent and Trademark Office. This patent covers the method for the development of a cannabinoid-based treatment that is used for interstitial cystitis.
Key Takeaways of the global interstitial cystitis drugs market: